Memorandum of Association is a document that regulates a firm’s external activities and must be drawn up on the formation of a registered or incorporated firm. As the firm’s charter it (together with the firm’s articles of association) forms the firm’s constitution. Also called ‘memorandum,’ it gives the firm’s name, names of its members (shareholders) and number of shares held by them, and location of its registered office.
Getting started:One of the world’s leading licensing examinations, the CPA Examination serves to protect the public interest by helping to ensure that only qualified individuals become licensed as Certified Public Accountants (CPAs).
There is smarter lot of taxpayers who are nowadays trying to beat the May 31 deadline? The lot that’s partly fuelling an unusual spurt in cash deals in recent weeks. Deals to organise a mountain of cash to pay a builder for a home or to keep off a sticky-fingered bureaucrat. For some, these are the last and the easiest routes to transform currency notes stashed inside cupboards into legitimate bank deposits; while for many others, it’s a way to gift a friend without any tax hassles.
The Delhi High Court Friday ruled that even those companies in which the government has a minority stake can be brought under the purview of the Right to Information (RTI) Act. Declaring National Agricultural Cooperative Federation of India Ltd (NAFED), National Cooperative Consumer Federation of India Ltd (NCCF) and Krishak Bharti Cooperative Ltd public authorities, Justice S. Muralidhar said there is no need to have deep or pervasive government control over an institution to bring it under the ambit of the transparency law.
The Union government on Friday discussed some “pending areas” in the proposed Goods and Services Tax (GST) with the empowered committee of state finance ministers, and asked it to resolve the issues at the earliest to meet the April 2011 deadline for the roll out of GST.
Facing criminal contempt of court proceedings? Apologize unconditionally and as swiftly as possible. Dithering is fraught with the risk of landing in jail, the Supreme Court has warned. An apology in a contempt proceeding must be offered at the earliest possible opportunity, said a Bench comprising Justices G S Singhvi and A K Ganguly in an order that toughens already stringent laws dealing with criminal contempt of court.
To set up a Company Law Tribunal without further delay, the Ministry of Corporate Affairs has begun consultations to make the necessary amendments in the Companies Act. The move comes in the backdrop of the Supreme Court judgment recommending changes in the existing Act to accommodate the tribunal within the constitutional framework.
